It has been revealed in a recent report that WR Grace has agreed to pay a settlement figure of tow hundred and fifty millions dollars to the federal government for the clean up and any further investigation into the asbestos contamination said to have been caused by the company’s mine in Libby, Montana .

The settlement figure is awaiting approval from a US bankruptcy judge before it is finalised, which was recently announced by the US Justice Department. The settlement will cover both past and future costs for investigation and clean up as asbestos in the area.

One resident stated: “Any judgment against Grace is a good one. This is a step forward; $250 million is nothing to sneeze at considering that in 1999 they were saying, ‘We didn’t cause the problem. We didn’t do anything.”‘

Officials from WR Grace have stated that they are pleased with the settlement agreement. The company is currently in Chapter 11 bankrupcty proceedings.

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